Regulatory Alerts2020-01-17 | 29640Reinsurance Arrangements 2020 – General Insurance
The Insurance Sector issued the Reinsurance Arrangements 2020 to establish a comprehensive regulatory framework for general insurance reinsurance contracts. The regulations mandate that all licensed insurers obtain prior approval for major reinsurance treaties and maintain adequate capital reserves to cover transferred risks. Furthermore, the framework standardizes reporting obligations, risk management practices, and dispute resolution mechanisms to ensure market stability and policyholder protection.
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